Kensington Mortgage application timescale

Creditfixer3021

barber1892 said:

Creditfixer3021 said:

barber1892 said:

So after 4 weeks we have just had our offer, our rough timeline was - 

28th July - Full app submitted. 

7th August - Valuation carried out. 

14th August - Valuation accepted, proof of deposit requested and proof of 3 mortgage payments. 

24th August - Mortgage offer received :-)

Anyone who is worried about how long it takes and wether you’ll get one my credit rating was awful and I still got an offer, I’m now fully debt free which I think helped. 

Good luck 

Congrats. Were you self employed?

Hi mate, no Im salaried and have been in my job 12 years. 

In the view of getting a mortgage, being self employed would make this so much easier. Today I’ve been asked to submit my 2021 tax early! Seriously, this is becoming a joke! 

Musa19

Creditfixer3021 said:

barber1892 said:

Creditfixer3021 said:

barber1892 said:

So after 4 weeks we have just had our offer, our rough timeline was - 

28th July - Full app submitted. 

7th August - Valuation carried out. 

14th August - Valuation accepted, proof of deposit requested and proof of 3 mortgage payments. 

24th August - Mortgage offer received :-)

Anyone who is worried about how long it takes and wether you’ll get one my credit rating was awful and I still got an offer, I’m now fully debt free which I think helped. 

Good luck 

Congrats. Were you self employed?

Hi mate, no Im salaried and have been in my job 12 years. 

In the view of getting a mortgage, being self employed would make this so much easier. Today I’ve been asked to submit my 2021 tax early! Seriously, this is becoming a joke! 

Oh my I feel your pain. How can you submit tax early? I hope you get your offer soon! 

Creditfixer3021

Musa19 said:

Creditfixer3021 said:

barber1892 said:

Creditfixer3021 said:

barber1892 said:

So after 4 weeks we have just had our offer, our rough timeline was - 

28th July - Full app submitted. 

7th August - Valuation carried out. 

14th August - Valuation accepted, proof of deposit requested and proof of 3 mortgage payments. 

24th August - Mortgage offer received :-)

Anyone who is worried about how long it takes and wether you’ll get one my credit rating was awful and I still got an offer, I’m now fully debt free which I think helped. 

Good luck 

Congrats. Were you self employed?

Hi mate, no Im salaried and have been in my job 12 years. 

In the view of getting a mortgage, being self employed would make this so much easier. Today I’ve been asked to submit my 2021 tax early! Seriously, this is becoming a joke! 

Oh my I feel your pain. How can you submit tax early? I hope you get your offer soon! 

You can do it (you can submit your tax return after April and you have until the 30th January of the following year. 

I ended up submitting it today (via my accountant) and it will take 48 hours to get my new sa302.

my new concern is my new sa302 is going to show an increase in earnings from 65k to 109k, most mortgage companies will see this as a positive as our application is based off £66k (3 years average earnings). I wouldn’t be surprised if Kensington feel this is a negative 

Bex_27

My mortgage application is going in today with Kensington. We are FTB, technically, it’s a bit complicated. I am a fully-fledged FTB but my other half has owned a property which he is currently in the process of handing over through solicitors to his ex-partner, in return, he will get £4,000 which we are using to pay off our debts. I will pay off my £1900 overdraft, a loan of £450 and my other half will pay off his credit card. This will leave us with about £1000 which we will use towards mortgage payments. We will also have around £1000 from our gifted deposit towards it too and will borrow the remainder from my parents.

My grandfather gifted the deposit and unfortunately passed away on Friday, so I hope they don’t ask too many questions. I got him to sign the Kensington deposit form, my aunty signed a letter as his power of attorney and I have all his ID etc. 

Fingers crossed it goes ok. As you can see we have debt hanging over us but we have the affordability, we take home over £60k a year. We have worked hard to bring our credit scores up and have paid off things like sofas and beds, which have helped build it up. My overdraft was a stupid student mistake and something I have not paid off but have begun to every month, the lump sum will wipe it off and allow us to start afresh. We will have one loan remaining which is £3,000 but my MA has advised that this is absolutely fine. We have two cars on finance too and that’s about it.

Really want this property, not only for us but my grandad. He passed away knowing we were buying a lovely property which he had helped us get. He was so proud!

blogger201719

Employment reference send to employer
Reference send to landlord.
Requests for documents unending.
Valuation is booked for next week.
There is no point getting stressed, just inhale it all in. Whatever outcome is what it is

Creditfixer3021

blogger201719 said:

Employment reference send to employer
Reference send to landlord.
Requests for documents unending.
Valuation is booked for next week.
There is no point getting stressed, just inhale it all in. Whatever outcome is what it is

I’ve had close to 14 weeks trying to get this mortgage but only 6/7 weeks with Kensington. It’s not the requests that annoy me, it’s there lack of clarity to me and the MA. Then the time between submitting then rejecting the documents or asking for more. We’ve paid a deposit on the house and a chunk of the legal fees to show we are genuine and it’s just Kensington taking there time.

im trying to be calm but it’s infuriating!

blogger201719

Creditfixer3021 said:

blogger201719 said:

Employment reference send to employer
Reference send to landlord.
Requests for documents unending.
Valuation is booked for next week.
There is no point getting stressed, just inhale it all in. Whatever outcome is what it is

I’ve had close to 14 weeks trying to get this mortgage but only 6/7 weeks with Kensington. It’s not the requests that annoy me, it’s there lack of clarity to me and the MA. Then the time between submitting then rejecting the documents or asking for more. We’ve paid a deposit on the house and a chunk of the legal fees to show we are genuine and it’s just Kensington taking there time.

im trying to be calm but it’s infuriating!

It's frustrating but we have to stay calm and hope for the best. The documents requests don't seem to end and most of the time it's duplicate requests.

maryjoashley

blogger201719 said:

Creditfixer3021 said:

blogger201719 said:

Employment reference send to employer
Reference send to landlord.
Requests for documents unending.
Valuation is booked for next week.
There is no point getting stressed, just inhale it all in. Whatever outcome is what it is

I’ve had close to 14 weeks trying to get this mortgage but only 6/7 weeks with Kensington. It’s not the requests that annoy me, it’s there lack of clarity to me and the MA. Then the time between submitting then rejecting the documents or asking for more. We’ve paid a deposit on the house and a chunk of the legal fees to show we are genuine and it’s just Kensington taking there time.

im trying to be calm but it’s infuriating!

It's frustrating but we have to stay calm and hope for the best. The documents requests don't seem to end and most of the time it's duplicate requests.

8 weeks in with Kensington!  Although to be fair our broker left his company without telling us so we've had a couple of issues there.  But they are still asking for more things, hopefully all that is finished now and it's finally with an underwriter (we think!)

Creditfixer3021

maryjoashley said:

blogger201719 said:

Creditfixer3021 said:

blogger201719 said:

Employment reference send to employer
Reference send to landlord.
Requests for documents unending.
Valuation is booked for next week.
There is no point getting stressed, just inhale it all in. Whatever outcome is what it is

I’ve had close to 14 weeks trying to get this mortgage but only 6/7 weeks with Kensington. It’s not the requests that annoy me, it’s there lack of clarity to me and the MA. Then the time between submitting then rejecting the documents or asking for more. We’ve paid a deposit on the house and a chunk of the legal fees to show we are genuine and it’s just Kensington taking there time.

im trying to be calm but it’s infuriating!

It's frustrating but we have to stay calm and hope for the best. The documents requests don't seem to end and most of the time it's duplicate requests.

8 weeks in with Kensington!  Although to be fair our broker left his company without telling us so we've had a couple of issues there.  But they are still asking for more things, hopefully all that is finished now and it's finally with an underwriter (we think!)

Let’s hope the new broker gets it sorted soon!

barber1892

Bex_27 said:

My mortgage application is going in today with Kensington. We are FTB, technically, it’s a bit complicated. I am a fully-fledged FTB but my other half has owned a property which he is currently in the process of handing over through solicitors to his ex-partner, in return, he will get £4,000 which we are using to pay off our debts. I will pay off my £1900 overdraft, a loan of £450 and my other half will pay off his credit card. This will leave us with about £1000 which we will use towards mortgage payments. We will also have around £1000 from our gifted deposit towards it too and will borrow the remainder from my parents.

My grandfather gifted the deposit and unfortunately passed away on Friday, so I hope they don’t ask too many questions. I got him to sign the Kensington deposit form, my aunty signed a letter as his power of attorney and I have all his ID etc. 

Fingers crossed it goes ok. As you can see we have debt hanging over us but we have the affordability, we take home over £60k a year. We have worked hard to bring our credit scores up and have paid off things like sofas and beds, which have helped build it up. My overdraft was a stupid student mistake and something I have not paid off but have begun to every month, the lump sum will wipe it off and allow us to start afresh. We will have one loan remaining which is £3,000 but my MA has advised that this is absolutely fine. We have two cars on finance too and that’s about it.

Really want this property, not only for us but my grandad. He passed away knowing we were buying a lovely property which he had helped us get. He was so proud!

They asked me to pay off my car finance before they’d give us our offer, luckily there was only £1,000 left on it.